Memorandum of Association Amendment.
Memorandum of Association of a Company sets down the constitution of a company including the permitted range of activities of the company, state of incorporation, type of company, capital clause, liability clause and more. Changes to Memorandum of Association of a company can be required while changing name of a company, changing registered office from state to state. alteration of objects clause, alteration of capital clause or increase of authorised capital. Changes to the Memorandum of Association of a company would require the passing of a special resolution and shareholders consent.
FinPark is the leading business services platform in India, offering a variety of services like company registration, trademark filing, GST registration, income tax filing and more. FinPark can help you amend Memorandum of Association of a company. The average time taken to file for complete a Memorandum of Association amendment is about 10 - 15 working days, subject to government processing time and client document submission. Get a free consultation on procedure for amendment of memorandum of association by scheduling an appointment with an FinPark Advisor.
Major Clauses in Memorandum of Association.
Lawful objects can be stated and included in the objects clause of the memorandum of association, whether the company engages in all those activities or not. From a legal view-point, any activity which offends the objects clause and is not expressly stated in the Memorandum of Association would be considered ultra-vires, i.e. beyond the powers of the company.
The name of the company must be stated with the last word 'Limited' in case of limited companies and with the last two words 'Private Limited' in case of private limited company. The Companies Act, 2013 states that a company should not be registered with an undesirable name.
The Memorandum of Association must state whether the company is limited by shares or by guarantee. Also, the Memorandum of Association must state that the liability of its members is limited. A company cannot increase the liability of its members without their written consent.
The Memorandum of Association must mention the State in which the registered office of the company will be located. The domicile of the company must be stated for determination of jurisdiction of Court, tax authorities and ROC.